Payday Lending in America

Article March 27, 2015

Topics: Family Finances Projects: Small Dollar Loans Research Project Read time:

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Pew’s Payday Lending in America series sheds light on the experience of borrowers. The research also details fundamental problems with payday loans, and suggests how policymakers can help solve these problems.

Report July 19, 2012

Payday Lending in America: Who Borrows, Where They Borrow, and Why

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Report July 19, 2012

Payday Lending in America: Who Borrows, Where They Borrow, and Why

Each year, 12 million borrowers spend more than $7 billion on payday loans. This report—the first in Pew's Payday Lending in America series—answers major questions about who borrowers are demographically; how people borrow; how much they spend; why they use payday loans; what other options they have; and whether state regulations reduce borrowing or simply drive borrowers online.

Report February 20, 2013

Payday Lending in America: How Borrowers Choose and Repay Payday Loans

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Report February 20, 2013

Payday Lending in America: How Borrowers Choose and Repay Payday Loans

For someone in need of quick cash, a payday loan can look like a way to avoid asking loved ones for help or getting into long-term debt. But these loans usually prove unaffordable, leaving borrowers in debt for an average of five months. This report—the second in Pew's Payday Lending in America series—answers questions about why borrowers choose payday loans, how they ultimately repay the loans, and how they feel about their experiences.

Report October 2, 2014

Payday Lending in America: Fraud and Abuse Online

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Report October 2, 2014

Payday Lending in America: Fraud and Abuse Online

This report, the fourth in Pew’s Payday Lending in America series, examines Internet-based payday loans and finds that lender practices often have serious detrimental effects on consumers.

Report October 30, 2013

Payday Lending in America: Policy Solutions

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Report October 30, 2013

Payday Lending in America: Policy Solutions

The third report in the "Payday Lending in America" series discusses the safeguards that are necessary to create successful small-dollar loan markets, and presents an analysis of a recent Colorado law change showing these safeguards can be applied while maintaining access to credit.